The pace bowler has secured 309 wickets in 71 five-day games with an average of 22.10.
The Australian selection chief the selector has declared that captain Pat Cummins will play a "major part" in this winter's England-Australia contest.
Speculation had been growing that Cummins might sit out due to a persistent back stress problem that was still troubling him.
Previous updates from team management suggested no final decision had been made regarding his involvement, with the five-Test series kicking off on November 21 in Western Australia.
The selector shared that his recovery is on track and was "optimistic" about the prospects of participating.
"We're aware that the clock is ticking and multiple considerations around that, not only the physical problem, but other factors as well," Bailey remarked.
"The outlook is good. There's strong faith that he's going to play a major part. Ideally starting in Perth. Otherwise, then we'll pick it up."
Injury History
The captain missed the ODI and T20 games against New Zealand and India last month after examinations confirmed a lumbar bone stress.
There is a track record of back injuries, with flare-ups in 2012-13, 2013-14 and 2015-16 forcing him out of several home seasons in a limited period.
He emphasized he would be bold in recovery efforts in his comeback strategy to ensure his availability for the series.
The selector indicated that there was no confirmation if he had started his bowling workouts as part of his recovery but admitted it was "becoming urgent" for him to be fit for the opener.
Contingency Plans
Should Cummins not be fit, ex-skipper Smith will take over the captaincy.
All-rounder Cameron Green was recently pulled out from Australia's squad for their limited-overs matches against the subcontinent side as a preventive step because of an abdominal issue.
Bailey described it as a "minor" injury and stated that Green will play in the state-level matches, so will be "in a good place to be ready to bowl."
"Considerable effort has gone into creating the schedule for him to take part for the initial game as an dual-role player," the selector detailed.
"He was only going to play the initial matches anyway. The way he swings the willow in shorter formats, should it hinder progress for another day, the choice was made to approach this more conservatively."
Fixture Details
The Historic Rivalry
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